Associates, Don’t Let Salary Hikes Become Your Faustian Bargain

Associates, Don’t Let Salary Hikes Become Your Faustian Bargain

In 1978, rock star Alice Cooper appeared in a bizarre episode of “The Muppets” in which he plays the role of agent of the devil. He offers Kermit, Miss Piggy and the other Muppets “fabulous riches and worldwide fame” in exchange for signing a contract relinquishing their souls. (Only Gonzo expresses interest, but he can’t find a pen.)

This “deal with the devil” cultural motif is common in books, movies and TV shows in which temptation is dangled before protagonists, and plot lines explore the human capacity to resist the allure of Faustian bargains.

This summer, a blockbuster drama is playing out across websites and around water coolers in the legal industry. Milbank moved first to raise first-year associate salaries. Cravath upped the ante by surpassing Milbank’s bump and sweetening the pot with increases for senior associates. Simpson Thacher threw special summer bonuses into the mix. Milbank then matched Cravath’s pay scale and announced its own bonuses for associates in good standing.

Video Marketing Strategy: What Law Firms Need to Know (Part 1)

Video Marketing Strategy: What Law Firms Need to Know (Part 1)

This post originally appeared on JD Supra.

For many law firm marketers, video is a topic they would rather not discuss.

It is often regarded as a high-cost, uncertain-ROI endeavor that is difficult to master and integrate into a firm’s broader marketing strategy. 

But understanding why and how video can and should be embraced by law firms to increase brand awareness, generate website traffic, burnish thought leadership, and support business development efforts is an important discussion that every law firm marketing department should be engaging in. Why? Because video, unlike many other fickle marketing trends, is not going away. In fact, video is only increasing in importance.

Five Best Practices for Law Firm Content Marketing

Five Best Practices for Law Firm Content Marketing

This post originally appeared on Attorney at Work.

Blockbuster became dominant in the video rental business by offering convenience and selection — more stores and more titles than its competitors. Then Netflix came along offering even more convenience — more selection delivered right to your doorstep — as well as cheaper prices. It became even more dominant by streaming content straight into living rooms.

What has allowed Netflix to avoid becoming “Netflixed” by its competition is not convenience or pricing, though. It’s content, as Netflix invests billions into original programming.

When it comes to capturing consumers’ limited, closely guarded attention, content remains king. The same principle applies for law firm websites.

Five Ways to Build Your Personal Brand in Today’s Digital World

Five Ways to Build Your Personal Brand in Today’s Digital World

In 2010, 24-year-old violinist Lindsey Stirling appeared on America’s Got Talent. She was eliminated in the quarter finals. According to Wikipedia, judge Piers Morgan told her: “You’re not untalented, but you’re not good enough to get away with flying through the air and trying to play the violin at the same time.”

Stirling later wrote on her blog: “I was devastated at the results … It was painful, and a bit humiliating; however, I had to relearn where it was that I drew my strength.”

Never heard of Lindsey Stirling? Perhaps choreographed violin performances aren’t your thing, but she’s crafted a big and profitable niche in the ensuing years since America’s Got Talent judge Sharon Osbourne told her: “What you're doing is not enough to fill a theater in Vegas.”

Content Marketing: An Essential Tool for Legal Business Development

Content Marketing: An Essential Tool for Legal Business Development

One of the challenges that most lawyers face is the sales and marketing rollercoaster. Business slows down and business development picks up. Then new work comes rolling in, and work product takes precedence over business development. And so on.

There’s no getting around the fact that selling is required to sustain and expand existing relationships, and to develop new ones. The problem is that—let’s face it—hardly anyone (especially most lawyers) enjoys selling. But rest easy because there’s a way to sell that doesn’t involve cold calling, glad handing and small talk. At least not in the traditional sense. One of the most important tools that lawyers can use to achieve business development success is content marketing.

Consumers of legal services desire, above all else, expertise. Unless expertise can be conveyed and validated through referral or reputation, it must be demonstrated through thought leadership expressed in the marketplace of ideas (i.e., content marketing). Generating and disseminating compelling content builds trust and awareness, and positions the content creator as an expert. It’s the “long game” with a focus on relationship building, not the hard sell.

Want to Generate More Leads as a Lawyer? Write a Book

Want to Generate More Leads as a Lawyer? Write a Book

This post originally appeared on Attorney at Work.

If you are an established lawyer looking to grow your practice, or a young lawyer hoping to build a book of business for the long term, you should give serious consideration to writing a book. Why? There are few, if any, better marketing assets than a book with your name on the cover.

As a lawyer, there are two steps to business development. First, you need to generate opportunities, then you need to capitalize on them. Writing a book helps with both. Here’s how.

The Right-Brained Lawyer is the Lawyer of the Future

The Right-Brained Lawyer is the Lawyer of the Future

At the leading edge of each of each new technology—from the Internet, to blockchain, to artificial intelligence—a pattern repeats itself. Every “next big thing” is over-hyped and oversold. A wave of momentum builds, companies and capital plunge in, the wave crashes, and a few participants emerge to define the market moving forward. Many technologies eventually become “big things,” but often not in ways we originally envision.

One thing we can say for certain—because we’re witnessing it before our eyes—is that the aggregate effect of technological advancements over the last twenty years is the leveling of the playing field when it comes to availability of information. We have moved from a world of information asymmetry to one of information parity due to the digitization of data accessible at the click of a button. In this word, yesterday’s “experts,” defined as those who held troves of data in their heads, are less valuable. Whatever information they possess about a particular topic is dwarfed by what’s freely available online.

5 Laws That Can Make Or Break Your Law Firm's Website Project (And How to Deal With Them)

5 Laws That Can Make Or Break Your Law Firm's Website Project (And How to Deal With Them)

Most law firms redesign their websites every 36 to 60 months. Due to changes in technology, preferences in design and communication styles, mergers and management shake-ups, and observations about what the competitor down the street is doing, many firms perceive the need—often for good reason—to frequently refresh their online presence.

This process can feel like running on a hamster wheel for law firm marketers tasked with managing their firms’ brands and websites. Just as political campaigns seem to begin anew following the latest election cycle, right when you work through all the bugs of a new law firm website launch, it’s time to start thinking about the next iteration.

The Power of a Personal Brand—Free Chapter Preview from "The Essential Associate"

The Power of a Personal Brand—Free Chapter Preview from "The Essential Associate"

For those who haven’t had a chance to check out my new book, The Essential Associate, I’m sharing the full text of Chapter 8—The Power of a Personal Brand. While the book is geared towards associates, I believe the lessons discussed in this chapter across experience levels. Enjoy! And don’t forget, if you are interested in purchasing the book for yourself or your colleagues, it’s available on my site, www.theessentialassociate.com, and on Amazon in both print and Kindle formats.

Chapter 8 – The Power of a Personal Brand

The problem with most business development advice is that it’s tactical and not strategic. Do this. Don’t do that. Try this software. Dabble in that social media platform. Tactics are important but only in the context of a larger strategy. And the ultimate strategy for a young lawyer hoping to build a sustainable business development pipeline is to build a strong personal brand.

Quantity or Quality? When it Comes to Content Marketing for Law Firms, it’s Both

Quantity or Quality? When it Comes to Content Marketing for Law Firms, it’s Both

Should we be creating more content but at a low level of quality, or less content at a high level of quality? For law firms looking to make an impact with their content, this question poses a false dichotomy. There is another alternative, which is to produce a high level of content at a high level of quality. If you are, in fact, hoping to make an impact with content marketing, there is no choice other than to do more, better.

 

What is Content Marketing?

Smart brands—law firms and otherwise—have come to understand that old-school, mass-market, interruptive styles of marketing, such as traditional advertising, aren’t working any longer. Consumers of all types of products and services, from light bulbs to legal services, are finding new ways to consume information, and are ignoring brands who are interjecting what they want people to hear and see, rather than creating stories consumers want to hear and see themselves.

Rather than one-off ad campaigns and self-centered marketing materials, law firms that produce content that inspires, educates, and entertains members of their target market, while using a consistent, authentic editorial voice, are succeeding in breaking through in today’s challenging and crowded marketplace for content. The best law firm content marketing, be it in the form of website content, articles, video, or audio, focuses on the client’s information needs and not the firm’s own preferences.